National Fertilizers gains on strong fertilizer sales in Q1 FY23

National Fertilizers (NFL) advanced 3.99% to Rs 43.05 after the company's total fertilizer sales jumped 47% to 15.58 lakh MT (metric tonne) in April-June 2022 compared with 10.62 lakh MT recorded during the same period last year.

The company said that it has recorded the best ever sales in its history. A major push to sale growth has been received from sale of non-urea fertilizers like DAP, Bentonite Sulphur, Bio fertilizers, PDM and micro nutrients.

Further, with a product mix of varied fertilizers, the company that said it is steadily progressing towards a record sale.

National Fertilizers is engaged in producing and marketing urea, neem coated urea, bio-fertilizers (solid and liquid) and other allied industrial products. As of 31 March 2022, the Government of India owned 74.71% stake in the company.

On consolidated basis, the company reported a net profit of Rs 6.06 crore in Q4 FY22 compared with net loss of Rs 9.53 crore in Q4 FY21. Net sales jumped 50% to Rs 4,442.29 crore during the period under review.

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